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Gear Motor Market Trends

Report ID: GMI10429
Published Date: Jul 2024
Report Format: PDF

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Gear Motor Market Trends

Growing adoption of IoT across industries has driven transformational growth in the gear motor industry since it changes operational dynamics. IoT-enabled gear motors now allow for real-time monitoring and control, thereby increasing their efficiency and reducing downtime through insights from predictive maintenance. This technological integration enables remote management and diagnostics, thereby streamlining operations across distributed assets and increasing flexibility in industrial processes.

The IoT also assists with seamless integration into smart manufacturing frameworks, helping to support agile and responsive production environments. With industries tapping into the power of the IoT in order to improve productivity and sustainability, there is an accelerated demand for sophisticated gearing motors, as these play a critical role in enabling smarter, more efficient industrial operations.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of gear motor was reached USD 5.96 billion in 2023 and is expected to register about 4.8% CAGR between 2024 and 2032, surge in investment in power generation, specifically from renewable sources and wind power.

Bevel gear motor segment generated a revenue of USD 1.41 billion in 2023 and is expected to cross USD 2.22 billion by 2032, due to their exceptional efficiency, versatility, and reliability across diverse industrial applications.

The US dominated North America gear motor market with revenue of around USD 1.19 billion in 2023 and expected to reach around USD 1.91 billion by 2032, owing to the industrialized base with a robust manufacturing sector, alongside extensive use of gear motors in industries related to automobiles, food & beverage, aerospace, and industrial machinery.

Regal Rexnord (U.S.), Shanthi Gears Limited (India), Nabtesco, SEW Eurodrive (Germany), Emerson Electric (U.S.), Sumitomo Heavy Industries (Japan), Portescap, HarmonicDrive, and FLENDER among others.